SOURCE: Surety Capital Corp.

November 19, 2013 08:48 ET

Surety Capital Corp. Announces 2013 Third Quarter Earnings and Stock Split

FORT WORTH, TX--(Marketwired - Nov 19, 2013) - Surety Capital Corp. (OTC Pink: SRYP) announces its third quarter ended September 30, 2013 financial results. Surety's Chairman of the Board and CEO Ralph Mendoza stated, "Surety's net income for the quarter was $6,430 a 41% decrease over the same quarter ended September 30, 2012. Surety's gross volume for the nine months is slightly ahead of 2012." Mendoza further stated, "The reason for the decrease in net income is due to hiring salesmen who have yet to reach their potential. We are also pursuing the cemetery and non-Hispanic funeral homes. This is our investment in growing the company and we should realize results within six months. This is the eleventh quarter in a row that Surety has had a net income from its ordinary business operations."

Surety finalized the acquisition of Herrera Financial Company's customer list, web-site, systems and name as of December 31, 2010. Herrera Financial is a leading funeral insurance assignment company operating throughout the United States. Veronica Herrera, the Fort Worth 2012 Hispanic Entrepreneur of the year, established Herrera Financial in 2007 to provide insurance assignment financing primarily for Hispanic funeral homes.

CEO, Chairman Mendoza stated, "The Board of Directors at its meeting voted subject to shareholders' approval that Surety change domiciles to the State of Texas from Delaware and split its stock 100 to 1." There will be a shareholders' meeting but the Board of Directors directly and/or indirectly control more than 50% of the shareholders' votes. Surety Capital Corporation only has 16,520,973 shares outstanding out of an authorized 20,000,000 shares. After the split there will be 1,652,097,300 shares outstanding and 2,000,000,000 shares authorized.

For more details concerning our financial statements, reports and the "Financing Friends Reward Program," please contact either Ralph Mendoza or Dick Abrams at 817.850.9800 or dick@sryp.net.

Market Statement: Some limited information about Surety is contained on the OTC Markets OTCPink website; however the Company does not file reports with the Securities and Exchange Commission or otherwise make current financial or other information publicly available. With a lack of current public information available, anyone considering purchasing or selling the Company shares should carefully consider the risks involved with the lack of having such information.

Forward-Looking Statement
This release contains forward-looking statements that reflect Surety's plans and expectations. In this press release and related comments by Company management, words like "hope," "profit," "leading," "opportunity," "expect," "anticipate," "estimate," "forecast," "objective," "plan," "goal" and similar expressions are used to identify forward-looking statements, representing management's current judgment and expectations about possible future events. Management believes these forward-looking statements and the judgments upon which they are based to be reasonable, but they are not guarantees of future performance and involve numerous known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements.

Contact Information

  • Media Contact:
    Ralph Mendoza
    Chairman
    Email: Dick@sryp.net
    Tel. (817) 850-9800